ALX - Alexander's to sell Rego Park III plot expects $54M gain
2023-03-08 18:01:49 ET
- Alexander's ( NYSE: ALX ) said Wednesday it will sell the Rego Park III land parcel adjacent to its Rego Park II shopping center in Queens, New York for $71M.
- The deal amount is inclusive of consideration for Brownfield tax benefits and reimbursement of costs for plans, specifications and improvements to date.
- Alexander's ( ALX ) expects to recognize a financial statement gain of ~$54M.
- The sale is expected to close in Q2.
- Earlier, the REIT posted Q4 results largely in line with estimates .
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Alexander's to sell Rego Park III plot, expects $54M gain